Provisions
X.5 proposed for 1870 • Liability of stockholders.
REJECTED
The Text
The stockholders in every corporation and joint-stock association for banking purposes, issuing notes or any kind of credits to circulate as money, shall be individually liable to the amount of their respective share or shares of stock, for all of its liabilities.
A Few Facts
• Has 42 words
• Was proposed by the Constitutional Convention
• Went to NYS voters as proposed amendment 1 of 1869
If New Yorkers voted to approve this provision, it would have:
• Joined the Constitution in 1870
• Been in Article X:
• Changed the text of a previously existing provision
• Amended or built on:
◦ 1847-VIII.7
Credits
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